Miami-Dade Launches Interest-Free Assistance Program for First Time Homebuyers

Qualified homeowners in Miami-Dade County are now eligible to receive an interest-free loan of up to $35,000 to cover the down payment of their first home.

The program is for any individual making less than $95,620 a year, a couple making less than $109,200, a three person household making less than $122,920 and households of four or more people making less than $136,500.

Miami-Dade County

Requirements to be eligible include:

  • Any individual or spouse who hasn’t had ownership in a principal residence during the three year period ending on the date of purchase of the property.
  • A single parent who has owned with a former spouse while married.
  • An individual who has owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
  • An individual who has owned a property that was not in compliance with state, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure.

All potential homebuyers are required to receive a counseling form from a Housing and Urban Development certified agency and to complete homebuyer education training.

For more information on requirements and what else you need to know, click on this link.